Riskified Ltd: price increase amid positive news? 24/10/2023Yesterday, 23 October, e-commerce security solution provider Riskified Ltd. announced a partnership with financial data network Plaid. It will allow the issuer to increase revenue through new transaction security customer offers. The Plaid and Riskified collaboration enables online merchants to accept ACH payments while protecting against fraud and insufficient funds.
This news may positively impact the Riskified Ltd (NYSE: RSKD) stocks; therefore, we focus on the company's stock chart today.
On the D1 timeframe, support has formed at 3.57, with resistance at 4.30. These levels are determined based on the price's highs and lows during the latest downward trend.
The support at 3.57 is strong since the quotes have not approached it for over a year. If the descending trend continues, a "false" breakout will likely form from this level, followed by a trend change.
On the H1 timeframe, if quotes return to 3.57, the next target for the price increase can be around 4.30. In this case, a rebound from support on D1 is expected.
In the medium term, the price can reach the target at 6.73. This level has served as resistance since the end of February 2023.
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